Three governments to blame for high public debt, Gyurcsany tells cttee

Budapest, June 17 (MTI) – The first Fidesz government and the two consecutive Socialist governments share responsibility for a significant increase in Hungary’s public debt, former Prime Minister Ferenc Gyurcsany told parliament’s audit and budget committee on Friday.  

According to Gyurcsany’s estimates, measures by Viktor Orban’s first Fidesz government increased public debt by 570 billion forints (EUR 2.1bn) in 2001-2002, while Peter Medgyessy’s Socialist government contributed to the debt portfolio with 817 billion forints and Gyurcsany’s own cabinet amassed another 512 billion forints in foreign debt in 2005-2006.


Hungary’s public debt increased by an overall 1,900 billion forints (EUR 7.1bn) before Gordon Bajnai took over as prime minister of a technocratic government and launched a programme of fiscal stabilisation, Gyurcsany said.